How Does Someone Donate Securities to our Charity?
When a donor wishes to donate their securities, you can send them directly to your website if you’ve added a Securities Custom Donation Form, or to your CanadaHelps Profile Page to make their securities donation.
NOTE: The transaction fee is the same regardless of which of these two ways the donor uses to make their donation.
Donation Process for Donors
- Donors are asked to fill out the online form with some basic information about the shares/funds and some personal details for tax receipting purposes (i.e. full name, address).
- Using this information, CanadaHelps automatically produces a “Letter of Direction” which the donor then downloads.
- The donor signs the letter of direction and provides it to their broker/financial institution.
- The broker/financial institution acts on that direction and transfers the requested number of shares from the donor’s investment account to the CanadaHelps’ account.
- CanadaHelps sells the securities on the day we receive them from the donor’s institution, arrange the pledge documentation and materials for the donor, issue the tax receipt to the donor, and transfer the proceeds to your charity. However, processing times for mutual funds may take up to 30 days.
PRO TIP: Your charity will receive weekly EFT disbursements when registered for a Full Fundraising account.
The donor receives a charitable tax receipt for the full market value of their securities, based on the close price on the day when the securities were transferred into CanadaHelps’ account.
NOTE: Due to fees and market fluctuations, the amount we transfer to your charity will likely differ slightly from the full market value that was assessed when the securities were first transferred.
For any other inquiries related to donations of securities, contact us at email@example.com and a member on our team would be happy to help!